New rental market survey published

A modest rise in rents has been reported in the lettings market - for houses, but not flats.

According to FindaProperty.com's May rental index, a divide is beginning to appear between the success of rental houses and flats to let.

Private landlords will have seen the market bring a fall in housing supply, but rising supply and lower rents with flats.

Overall, properties were on the rental market for 16 days longer than one year before, while the average asking rent remained the same month-on-month but down 5.5 per cent on May 2008's figure.

Head of research at FindaProperty.com Andrew Smith said: "In line with the overall picture of the UK rental market there are some early signs of regional revival, with London and the south-east leading the way in England, and Scotland also experiencing rental growth."

It is widely predicted that many would-be first-time buyers will still need rental property to live in over the coming months, as they wait for lenders to reduce the amount of money needed for mortgage deposits.